The Last 2 Weeks Exposed Something Very Disturbing About Bitcoin (I Was Wrong) | Bob Burnett
Rob Wallace | Bitcoin NewsBob Burnett just confirmed the thing most Bitcoiners did not want to hear. BIP-110 did not fail because of the miners. It failed because Wall Street, the exchanges, and Strategy said no.
He watched it happen live from his couch, already certain of the outcome since June. Now he is back with the most candid insider account you will hear anywhere: what actually went down at Ocean, why the suits and the custodians decided this fight before a single block was mined, and why the social layer wound from this may take far longer to heal than the technical one ever did.
Here is what we cover:
• The moment an Ocean-mined block appeared on both sides of the chain split at the exact same time
• Why Bob believes BIP110 was never close to succeeding despite the hype in the final weeks
• Why he does not agree that miners control Bitcoin and why the real story is about exchanges, custodians, and user demand
• How Antpool and Foundry effectively decided the outcome and why Foundry giving clients a binary choice mattered enormously
• The Roughnecks group spending roughly half a million dollars a day renting hash rate to keep BIP110 alive
• What actually happens to the abandoned BIP110 chain now, including a hard fork, a new hashing algorithm, and a new difficulty level
• An inside look at the division within Ocean itself between the three camps, and how Ocean built dual-template infrastructure to give miners a real choice
• The full explanation of Ocean's 0.3 BTC refund to users who were signaling for BIP110 without realizing it
• Why Bob compares the split to a divorce and calls for empathy and healing on both sides of the community
• What comes next for Ocean, including the new Portal product, SOC 2 compliance, and a renewed push for decentralized block production
• A first look at a brand new BIP Bob is working on and the open questions around how any future Bitcoin upgrade should be proposed and activated
This is one of the most honest and firsthand accounts of the BIP110 fork you will find anywhere.
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Bitcoin News is not a financial adviser. All opinions expressed by us or our guests in these videos is for informational purposes only, and should not be treated as investment or financial advice of any kind. Any information provided during the video is general in nature and does not take into account the viewers specific circumstances.